Yesterday’s move followed the car maker’s failure to reach a deal with KPMG over the supply of chassis from collapsed Midlands car parts supplier UPF, after the receivers’ demanded a £35m goodwill payment.
Land Rover has threatened to halt production of the Discovery if KPMG persists with its demands, a move that would force the motor company to lay off 1,400 workers.
Earlier this month Land Rover secured a temporary injunction, which expires today, forcing KPMG to continue shipping supplies from UPF.
KPMG expected the judgement to be given later today but said it might be held over until early next week.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies